The procurement industry must adapt to cater for changing conditions. At Michael Page Procurement & Supply Chain we’re seeing external factors affect our clients’ briefs on the type of candidates they need in order to better equip their procurement and supply chain functions. Below are three trends that continue to influence the industry.
All businesses (regardless of whether they have international presence or not) can be affected by globalisation. Organisations are increasingly learning that they must structure their procurement and supply chain functions to reflect external process changes. As supply chains become longer and more complex, businesses will also have to be more critical in hiring decisions. Supply and demand trends are becoming harder to predict so professionals who can adapt to volatile conditions are in high demand.
A positive effect globalisation has on hiring is that global opportunities are now well in reach for many procurement professionals, who can use the experience to expand their skill set and progress their careers. Skills in procurement are largely transferable so international experience isn’t always a requirement for employers but conversely does look attractive on a CV.
2. Resources and specific commodity experience
Procurement functions are getting bigger – better buy in from the business and increased spend mean the pressure to deliver a cost savings is massive. Key to alleviating this is attracting the right commodity buyers and managers. They can effectively take some of the pressure off in specialist areas. Bring in those with external experience of suppliers and markets who have new ideas on cost savings and supplier relationship management.
As a core function, lack of resources presents the biggest challenge for departments. This has led to the added need for investment in procurement technology, training and recruitment. Some of the biggest trends for the future in the procurement industry are finding new ways of cutting costs in the supply chain, implementing new initiatives and bringing in external knowledge and ideas. Investment in supplier and spending analysis should minimise the risk of overspending in an organisation’s procurement function.
3. Embedded procurement
More and more frequently we are seeing business being procurement led. Whether it’s a new venture, consolidation or growth across different geographical regions, procurement is at the forefront of making it a success. Look for candidates that have the ability to see the growth and expansion of companies or have proven experience in doing this.
Skills to look out for
Moving forward, ensure your procurement functions are equipped with the right skills to overcome these future challenges. Skills to look out for include:
Systematic thinking over functional expertise. Professionals that can see past traditional boundaries and understand cross-disciplinary systems are in high demand, bringing functions together for an ultimately smoother process.
Understanding of and ability for integrating complex technology systems across multiple functions in an organisation and across multiple businesses.
Relationship management. The ability to lead and develop virtual multinational teams is vital for functions that need to make the most of an international supply chain.
- Environment and social awareness. Procurement professionals who take into account the wider effects of global procurement and supply chains can add value to an organisation’s corporate responsibility promises. If you’re making changes to your procurement function, get in touch with Michael Page Procurement & Supply Chain to start your recruitment process today.
If you’re making changes to your procurement function, get in touch with Michael Page Procurement & Supply Chain to start your recruitment process today.